The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

Agreement by the government on the budget for the coming year was surprisingly fast. After prior discussions for months, the details on the Austrian budget 2011 are finally known.

Above all, the mineral oil tax is increased by four to five cents per liter of fuel, something regarded as relatively moderate. Gasoline and diesel continue being cheaper than the EU average, especially…